Basis of Allotment

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This is a public announcement for information purposes only and is not a prospectus announcement and does not constitute an invitation or offer to  aquire, purchase or subscribe to securities. This is not for release, publication or distribution directly or indirectly Outside India.

SHALBY LIMITED

Our Company was originally incorporated as Shalby Hospital Private Limited on August 30, 2004, at Ahmedabad, Gujarat, India, as a private Limited company under the Companies Act 1956. Subsequently, our Company was converted to a public limited company, and a fresh certificate of incorporation consequent upon change of name on conversion to a public limited company was issued by the Registrar of Companies, Ahmedabad, Gujarat ("RoC") on May 15, 2006. in the name of Shalby Hospital Pubic Limited, The name of our Company was subsequently changed to Shalby Hospiiais Limited, and a fresh certificate of incorporation, consequent upon change of name was issued by the RoC on July 26, 2006 Thereafter, the name of our Company was changed to Shalby Limited, and a fresh certificate of incorporation, consequent upon change of name was issued by the RoC on February 13, 2008. For details of change in the name and Registered Office of our Company, see "History and Certain Corporate Matters" on page 178 of the Prospectus dated December 11, 2017 ("Prospectus")

Registered and Corporate Office: Opposite Karnawati Club, Sarkhej Gandhinagar Highway, Near Prahlad Nagar Garden, Ahmedabad - 380 015. Gujarat, India.
Contact Person: Jayesh Patel, Company Secretary and Compliance Officer;
Tel: +91 79 4020 3000; Fax: +91 79 4020 3120; E-mail: companysecretary@shalby.in : Website: www.shalby.org ; Corporate Identity Number: U85110GJ2004PLC044667

OUR PROMOTERS: DR VIKRAM SHAH, DR DARSHINI SHAH, SHANAY SHAH, ZODIAC MEDIQUIP LIMITED AND SHAH FAMILY TRUST

Our Company has filed the Prospectus dated December 11, 2017 with the Registrar of Companies, Gujarat at Ahmedabad and the Equity Shares are proposed to be listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and the trading is expected to commence on December 15,2017.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 20,354,838 EQUITY SHARES OF FACE VALU E OF RS 10 EACH ("EQUITY SHARES") OF SHALBY LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS 248 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 238 PER EQUITY SHARE) AGGREGATING UPTO RS 5,048.00 MILLION ("OFFER") COMPRISING A FRESH ISSUE OF 19,354,838 EQUITY SHARES AGGREGATING UP TO RS 4,800.00 MILLION ("FRESH ISSUE"') AND AN OFFER FOR SALE OF 1,000,000 EQUITY SHARES BY DR VIKRAM SHAH (THE "SELLING SHAREHOLDER") AGGREGATING UP TO RS 248 MILLION ("OFFER FOR SALE"), THE OFFER COMPRISES A NET OFFER TO THE PUBLIC OF 20,233,838 EQUITY SHARES (THE "NET OFFER") AND A RESERVATION OF 121,000 EQUITY SHARES AGGREGATING UPTO RS 30.01 MILLION FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER WILL CONSTITUTE 18.85% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL AND THE NET OFFER WILL CONSTITUTE 18.73% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL.

Offer Price: Rs 248 per Equity Share of face value of Rs 10 each
The Offer Price is 24.80 times the face value of the Equity Shares
Anchor Investor Offer Price: Rs 248 per Equity Share

Risks to Investors:

i. The three Book Running Lead Managers ("BRLMs") associated with the Offer have
handled 35 public offers in the past three years, out of which 10 issues closed
below the offer price on listing date.
ii. Average cost of acquisition of Equity Shares for the Selling Shareholder is Rs 4.00*
and Offer Price at the upper end of the Price Band is Rs 248,

* The average cost of acquisition of Equity Shares held by the Selling Shareholder has beeen calculated by considering the total cost of Equity Shares held divided by the total number of Equity Shares held (including bonus shares for which the Selling Shareholder has not paid any monies). Further the total number of Equity Shares held by the selling shareholder is calculated after taking into account the number of Equity Shares transferred by or to the Selling Shareholder as applicable.

OFFER PERIOD: OPENED ON: TUESDAY, DECEMBER 5, 2017
CLOSED ON: THURSDAY, DECEMBER 7, 2017
ANCHOR INVESTOR BID/OFFER PERIOD WAS: MONDAY, DECEMBER 4, 2017

In terms of Rule 19(2)(b) of the securities Contracts (Regulation) Rules, 1957 as amended (the "$CRR"), and in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("'SEBI ICDR Regulations"), this was an Offer wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to qualified institutional buyers ("QIBs"). Our Company/ and the Selling Shareholder, in consultation with the BRLMs, allocated 60% of the QIB Portion to Anchor Investors ("Anchor Investor Portion") on a discretionary basis, out of which, at least one-third was available for allocation to domestic Mulual Funds, valid Bids having been received from domestic Mutual Funds at or above- the Anchor Investor Allocation Price. Such number of Equity Shares representing 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remaining Net QlB Portion was available for allocation on a proportionate basis to all QIBs (other than Anchor Investors}, including Mutual Funds, subject to valid Bids being received at or above Offer Price. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Investors, and not less than 35% of the Net Offer was available for allocation to Retail Individual Investors in accordance with the SEBl ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further 121,000 Equity Shares was available for allocation on a proportionate basis to Eligible Employees, subject to valid Bids being received from them at or above the Offer Price. All Investors (except Anchor Investors) were mandatorily required to participate in this Offer only through the Application Supported by Blocked Amount ("ASBA") process, further details, see "offer provrdure" on page 426 of the Prospectus.

The Offer received 304,068 applications for 46,229,160 Equity Shares (before technical rejections) resulting 2.27 times subscription. The details of the applications received in the Offer from various categories are as under: (before technical rejections):

SI no. Category No. of
applications
No. of Equity
Shares applied
Amount
(Rs)
No. of times
Subscribed
No. of Equity
Shares reserved
A Retail individual Bidders 303,679 20,380,800 5,055,566,300.00 2.88 7,081,844
B Non institutional Bidders 158 1,290,180 319,942,860.00 0.43 3,035,076
C Employee Investors 202 1,36,620 33,881,520.00 1.13 121,000
D Qualified Institutional Bidders (Excluding Anchors) 16 18,090,600 4,486,468,800.00 4.47 4,046,768
E Anchor Investors 13 6,330,960 1,570,078,080.00 1.04 6,070,150
Total 304,068 46,229,160 11,465,927,560.00 1.27 20,354,838

Final Demand
A summary of the final demand as at different Bid prices is as under:

Sl no.

Bid
price
Bids
quantity
(%)To
total
Cumulative
total
% Cumulative
total
1 245 115,200 0.28 115,200 0.28
2 246 43,260 0.11 158,460 0.39
3 247 39,660 0.10 198,120 0 48
4 248 22,384,380 54.50 22,582,500 54.98
5 CUTOFF 18,490,680 45.02 41,073,180 100.00
TOTAL 41,073,180 100.00

The Basis of Allotment was finalized in consultation with designated stock exchange NSE on December 12, 2017.

A. Allotment to Retail Individual Investors (after technical rejections)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs 248 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 2.5725 times. The total numberof Equity Shares Allotted in Retail Portion is 7,803,814 Equity Shares to 130,063 successful Retail Individual Bidder, The category-wise- details of the Basis of Allotmentara as under.

Category No. of
applications
received
% of
total
Tolal no. of
Equity Shares
applied
% to
total
No. of Equity
Shares Allotted
per applicant
Ratio Total no. of
Equity Shares
allotted
60 288,011 96.14 17,280,660 86.08 60 478:1101 7,502,400
120 6,036 2.01 724,320 3.61 60 89:205 157,260
180 1,781 0.59 320,580 1.60 60 56:129 46,380
240 815 0.27 195,600 0.97 60 56:129 21,240
300 707 0.24 212,100 1.06 60 56:129 18,420
360 404 0.13 145,440 0.72 60 56:129 10,500
420 320 0.11 134,400 0.67 60 56:129 8,340
480 144 0.05 69,120 0.34 60 63:144 3,780
540 60 0.02 32,400 0.16 60 13:30 1,560
600 258 0.09 154,800 0.77 60 56 :129 6,720
660 38 0.01 25,080 0.12 60 8:19 960
720 65 0.02 46,800 0.23 60 28:65 1,680
780 941 0.31 733,980 3.66 60 89 :205 24,540
1 34:5023 34
TOTAL 299,580 100.00 20,075,280 100.00 7,803,814

Includes spill over of 721,970 Equity Shares from NIB Category

B. Allotment to Non-Institutional Investors (after technical rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the offer price of Rs 248 per Equity Share or above, was finalized in consultation with the NSE. The Non-Institutional portion has been subscribed to the extent of 0.4223 times. The total number of Equity Share allotted in this category is 1,281,720 Equity Shares bo 149 successful Non- Institutional Bidder. The category-wise detais of the Basis of Allotmentare as under

Category No. of
applications
received
% of
total
Total no. of
Equity Shares
applied
% to
total
No. of Equity
Shares Allotted
per applicant
Ratio Total no.
of Equity
Shares Allotted
840 32 21.48 26,880 2.10 840 1:1 26,880
900 11 7.38 9,900 0.77 900 1:1 9,900
960 1 0.67 960 0.07 960 1:1 960
1020 6 3.36 5,100 0.40 1020 1:1 5,100
1080 1 0.67 1,080 0.08 1080 1:1 1,080
1200 10 6.71 12,000 0.94 1200 1:1 12,000
1320 1 0.67 1,320 0.10 1320 1:1 1,320
1500 2 1.34 3,000 0.23 1500 1:1 3,000
1560 2 1.34 3,120 0.24 1560 1:1 3,120
1620 1 0.67 1,620 0.13 1620 1:1 1,620
1680 1 0.67 1,660 0.13 1680 1:1 1,660
1800 5 3.36 9,000 0.70 1800 1:1 9,000
1980 5 3 36 9,900 0.77 1980 1:1 9,900
2040 7 4.70 14,280 1.11 2040 1:1 14,280
2100 1 0.67 2,100 0.16 2100 1:1 2,100
2400 2 1.34 4,800 0.37 2400 1:1 4,800
3000 2 1.34 6,000 0.47 3000 1:1 6,000
3660 1 0.67 3,660 0.29 3660 1:1 3,660
3720 1 0.67 3,720 0.29 3720 1:1 3,720
4020 4 2.68 16,080 1.25 4020 1:1 16,080
4080 6 4.03 24,480 1.91 4080 1:1 24,480
4200 1 0.67 4,200 0.33 4200 1:1 4,200
4500 1 0.67 4,500 0.35 4500 1:1 4,500
5040 2 1.34 10,080 0.79 5040 1:1 10,080
6000 19 12.75 114,000 8.89 6000 1:1 114,000
7320 1 0.67 7,320 0.57 7320 1:1 7,320
8040 1 0.67 8,040 0.63 8040 1:1 8,040
8100 1 0.67 8,100 0.63 8100 1:1 8,100
9000 1 0 67 9,000 0.70 9000 1:1 9,000
9660 1 0.67 9,660 0.75 9660 1:1 9,660
10020 1 0.67 10,020 0.78 10020 1:1 10,020

 

10800 1 0.67 10,800 0.84 10800 1:1 10,800
12060 2 1.34 24,120 1.88 12050 1:1 24,120
20160 2 1.34 40,320 3.15 20160 1:1 40,320
21000 1 0.67 21,000 1.64 21000 1:1 21,000
24180 1 0.67 24,180 1.89 241*0 1:1 24,180
25020 1 0.67 25,020 1.95 25020 1:1 25,020
28200 1 0.67 28,200 2.20 25200 1:1 28,200
32220 1 0.67 32,220 2.51 322: : 1:1 32,220
34980 1 0.67 34,980 2.73 34950 1:1 34,980
50040 1 0.67 50,040 3.90 5CC40 1:1 50,040
50400 1 0.67 50,400 3.93 50400 1:1 50,400
60000 1 0.67 60,000 4.6* 60000 1:1 60,000
90000 3 2.01 270,000 21.07 gaooo 1:1 270,000
114840 1 0.67 114,840 6.96 114*40 1:1 114,840
150000 1 0.67 150,000 11.70 150000 1:1 150,000
TOTAL 143 140.00 1,281,720 100.00 1,281,720

Unsubscribed portion of 1,753,356 Equity Shares spilled over to QIB and Retail Categories in the ratio of 50:35 (i.e. 1,031,386 Equity Shares spiiled over to QIB category and 721,970 Equity Shares spilled over to Retail Category)

C. Allotment under Employees Reservation Portion (after Technical Rejections)
The Basis of Allotment to investors under Employees Reservation Portion, who have bid at cutoff price or the offer price of Rs 248 per Equity Share, was finalized in consultation with NSE .This category has been subscribed to the extent of 1.0850 times. The total number of Equity Shares Allotted in this category is 121,000 Equity Shares to 165 successful Bidders. Allotment under the Eligible Employee Category have been split in 2 categories (i) applications upto Rs 2 Lakhs (ii) applications.above Rs 2 Lakhs and upto Rs 5 Lakhs,.

The category-wise details of the Basis of Allotment for Employee up to Rs 2 Lakhs are as under:

Category No. of
applications
received
% of
total
Total no. of
Equity Shares
applied
% to
total
No. of Equity
Shares Allotted
per applicant
Ratio Total no.
of Equity
Shares allotted
60 31 16.79 1,860 2.44 60 1 :1 1,860
120 10 6.06 1,200 1.57 120 1 :1 1,200
188 22 13.33 3,960 5.19 180 1 :1 3,960
240 5 3.03 1,200 1.57 240 1 :1 1,200
300 5 3.03 1,500 1.97 330 1 :1 1,500
360 4 2.42 1,440 1.89 360 1 :1 1,440
420 5 3.03 2,100 2.75 420 1 :1 2.100
480 3 1.82 1,440 1.89 480 1 :1 1,440
540 2 1.21 1,080 1.42 540 1 :1 1,080
600 1 0.61 600 0.79 600 1 :1 600
720 2 1.21 1,440 1.89 720 1 :1 1,440
780 75 45.45 58,500 76.65 780 1 :1 58,500
TOTAL 165 100.00 76,320 100.00 76,320

The category-wise details of the Basis of Allotment for Employee above Rs 2 Lakhs and up to Rs 5 Lakhs are as under:

Category No of shares
available for
allocation
No, of
Applications
Received
% of
Total
Total No.
of Equity
Shares applied
% to
Total
No. of Equity
Shares allotted
per applicant
Ratio Total No. of
Equity Shares
allotted
840 60 1 1.92 60 0,11 49 1 : 1 49
960 180 1 1.92 180 0.33 146 1 : 1 146
1080 300 1 1.92 300 0.55 244 1 : 1 244
1200 420 2 3.85 840 1.53 341 1 : 1 682
1260 480 1 1.92 480 0.87 390 1 : 1 390
1320 540 1 1.92 540 0.98 439 1 : 1 439
1440 660 1 1.92 660 1.20 537 1 : 1 537
1500 720 1 1.92 720 1.31 585 1 : 1 585
1800 1020 2 3.85 2,040 3.71 829 1 : 1 1,658
1920 1140 1 1.92 1,140 2.07 927 1 : 1 927
1980 1200 40 76 92 48,000 87.34 925 1 : 1 39,000
1 23 : 40 23
TOTAL 52* 100.00 54,960 100.00 44,680

*Form part of 165 applicants who have bidded above Rs 2 Lakhs and up to Rs 5 Lakhs

D. Allotment to QIBs (excluding Anchor Investors and after technical rejection)

Allotment to QIBs, who have Bid at the Offer Price of Rs 248 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This cetegory has been subscribed to the extent of 3.5624 times of QlB Portion. The total number of Equity Shares Allotted in the QIB Portion is 5,078,154 Equity Shares, which were allotted to 16 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under.

Category Fls/Banks Flls Mfs ICs Others Total
QIB 0 2,947,712 436,054 54,542 1,639,846 5,078,154

Includes spillover of 1,031,386 Equity Shares from NIB Category

E. Allolment to Anchor I nvestors
Our Company and the Selling Shareholder, in consultation with the BRLMs. have allocated 6,070,150 Equity Shares to 11 Anchor Investors (through 13 Applications) at the Anchor Investor Offer Price of Rs 248 per Equity Share in accordance with (he SEBl ICDR Regulations. This represents 60% of the QlB Portion.

Category FIs/Banks MFs ICs AIF FPl Others Total
Anchor - 967,800 745,980 811,860 3,544,510 - 6,070,150

The IPO Committee of our Company on December 13, 2017 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-lntimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. In case the same is not received, investors may contact the Registrar to the Offer at the address given below. The instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on December 13, 2017 and payment to non-Syndicate brokers have been issued on December 13, 2017. The Equity Shares Allotted to the successful Allottees have been uploaded by CDSL and by NSDL on December 13, 2017 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. Our Company has filed the listing application with NSE and BSE on December 13, 2017. Our Company has received listing and trading approval from NSE and BSE and the trading will commence on or about December 15, 2017

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made have been hosted on the website of the Registrar to the Offer, Karvy Computershare Private Limited at https://karisma.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/sole Bidders, Bid cum Application Form number, Bidder DP,ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application form was submitted by Bidder and a Copy of the Acknowledgement Slip received from the Designated Intermediary at the address given below:

KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium, Tower B, Plot 31 - 32, Gaccchibowli, Financial District, NanaKramguda,
Hyderabad - 500 032, Telangana, India Tel: +91 40 6716 2222. Fax: +91 40 2343 1551
E-mail: einward.ris@Karvy.com: Investor Grievance E-mail: shalby.ipo@karvy.com
Website: https://karisma.karvy.com
Contact Person: M Muralikrishna; SEBl Registration No.: INR000000221

Place: Ahmedabad
Date: December 14, 2017
For SHALBY LIMITED
Or behalf of the Board of Directors
Sd/-
Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF SHALBY LIMITED

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